#BTC breaks $69,500, a new ATH coming?

Good morning ☀ Iron powder check-in 👍 Like to make big money 🍗🍗🌹🌹
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The overnight closing of US stocks rose and fell differently, with the Dow falling 0.80%, the Nasdaq rising 0.27%, and the S&P 500 falling 0.18%. Nvidia rose more than 4%, hitting a new historical high in stock price, with a total market capitalization exceeding $3.5 trillion. After last night's huge fluctuations, the encryption market is now stabilizing! Starting from October 1st, the environment of interest rate cuts + elections has caused BTC to rise from 60,000 to nearly 70,000, MEME is flying, and most of the altcoins are also approaching the bottom, which is the beginning of a new cycle. Here, I still see BTC going to new highs and there will be a batch of trading opportunities. As I said before, there will be a super market in Q4, accompanied by the election in November, the interest rate cut, and the liquidity to be released by FTX, believing that the market will be even crazier.
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Bitcoin showed a tentative rise in early trading yesterday. After encountering resistance at 69500, it continued to fall during the day without effectively breaking through the upper pressure range. The overnight low retracement opened at 66820 and is currently running at 67500. From the current daily trend analysis, the bullish force is strong, driving the market to continue to rise. After the high, the market experienced a slight consolidation and then continued to show an upward trend. Currently, the retracement after the high is limited, and the market maintains consolidation at high levels, with the overall structure still leaning towards longer. It is worth mentioning that the upward trend on the 4-hour chart is significant, and the moving average and Bollinger Bands are showing an upward trend, making it difficult for the short-term bears to perform. In such a strong market structure, it is advisable to continue with the strategy of taking long positions at low levels.
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After a weekend of sideways correction, Ethereum stabilized in the early morning yesterday and saw a bullish rally in the morning, reaching a high of around 2770, which is also the recent high point. Then the price of the coin fell under pressure, and the bulls resisted slightly at noon. However, the bears have been gathering momentum for a week and will not stop until they explore the bottom. The price fell to a low of around 2655, breaking through the support level below. Currently, the price of Ether has stopped falling and is holding above the support at 2650, starting to undergo oscillating correction. If this support level is not broken, it indicates strong support in this area and we will continue to be optimistic. In the short term, there is a need for correction, and a strong correction will be replaced by consolidation instead of a decline. Only a weak correction will provide room for a pullback. Combined with the pattern, we can determine the strength and weakness of the conversion. After the pattern stabilizes, we can choose a low position for long position trading and switch between long and short positions to flexibly respond!
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In the past, the copycat coins raised funds for only a short month, but this time, it lasted for a full 2 to 3 months. This is not just the accumulation of time, but also the brewing of market sentiment, a unprecedented storm is brewing! Before this storm arrived, the market experienced an extreme washout. Looking back on the ups and downs of this year, investors can't help but feel lingering fear, as if they were in a cruel battlefield, a little carelessness could lead to complete collapse. Especially the big dump on August 5th, the Trading Volume was so large, and the lack of liquidity made people can't help but wonder, who quietly took away those chips? It is such a market environment that makes me always believe that the market for copycat coins will definitely come!